All this beautiful weather may have you thinking perhaps it’s time to get out of your business, so you can enjoy a more relaxed lifestyle. If so, read on, for our thoughts on how you can step away from your business.
At some point most business owners will think about getting of their business, whether it’s to retire or to do something completely different. The options available to you are:
- sell the business
- pass it on to a family member
- negotiate a management buy-out
- wind the business down
First of all, you will want to consider what you want from exiting your business. Are you looking to generate as much cash as possible; is it important to you that the business goes from strength to strength; are you looking for it to stay in the family; or are you happy to close it down and walk away. Once you understand how you feel emotionally about exiting your business, we can help you understand what is possible, realistically. So at this stage, please make sure you speak to Andrew or Jackie.
The best exits from a business have been planned over a period of at least 18 months. This gives us time to advise you on how best to structure the business and your affairs, so you gain the most benefit from the exit. Over the next few months we will explore each of the different options of how to exit your business, so watch this space. In the meantime, if you are thinking about how best to exit, please call Andrew or Jackie on 01625 524127.